Common use of ACKNOWLEDGEMENTS BY EMPLOYEE Clause in Contracts

ACKNOWLEDGEMENTS BY EMPLOYEE. Employee acknowledges he may be removed as an officer of the Operating Partnership, the General Partner or Crescent in accordance with applicable law; if such event occurs while the Option is not fully vested, Section 6 herein shall govern the full or partial forfeiture of the Option. Employee agrees that no duty of good faith or fair dealing shall be read into this Agreement against the Operating Partnership, the General Partner or Crescent. Employee understands and intends that this Agreement does not create a partnership or joint venture between Employee and the Operating Partnership.

ACKNOWLEDGEMENTS BY EMPLOYEE. Employee acknowledges he may be removed as an officer of the Operating Partnership, the General Partner or Crescent in accordance with applicable law; if such event occurs while the Option is not fully vested, Section 6 4 herein shall govern the full or partial forfeiture of the Option. Employee agrees that no duty of good faith or fair dealing shall be read into this Agreement against the Operating Partnership, the General Partner or Crescent. Employee understands and intends that this Agreement does not create a partnership or joint venture between Employee and the Operating Partnership.